The Lebanese capital, Beirut, will host the fourth of the five regional forums on financing climate action organized by the Egyptian presidency of the COP27 conference and the five regional committees of the United Nations and the climate pioneer for the Egyptian presidency of the conference on September 15th. The forum will focus on climate finance opportunities and initiatives in the context of achieving the sustainable development goals.
The forum, hosted by the United Nations Economic and Social Commission for Western Asia (ESCWA), brings together a number of actors from the public and private sectors in the Arab countries to discuss ways to accelerate the financing of climate action.
The forum is scheduled to witness the virtual participation of the Minister of Foreign Affairs and President of the COP27 Conference, the Minister of Planning and Economic Development, and the Minister of Finance, as well as the actual participation of the Minister of International Cooperation, Dr. Mahmoud Mohieldin, the climate pioneer for the Egyptian presidency of the COP27 conference, Rola Dashti, Under Secretary The General of the United Nations, the Executive Secretary of ESCWA, and a number of Arab Ministers.
At a time when all countries place the issue of achieving environmental and climate resilience at the heart of the development work of West Asian countries, Arab countries must work more to mobilize funding for climate and development action so that the Arab region can face climate changes and maintain food and water security and the availability of energy sources .
The forum aims to accelerate the pace of financing in the Arab region by presenting bankable projects while creating a vision to speed up the implementation process as well. The 2030 Agenda for Sustainable Development, “It is necessary to give climate action a regional dimension that takes into account the priorities and challenges of each region.”
Initiatives stimulated by innovative financing methods and regional action can create opportunities for private sector investment, co-financing and bilateral support. To identify the interlinkages and synergies in financing climate action in order to accelerate access to clean energy sources and enhance energy efficiency technologies, as well as means to ensure food and water security, which remain a strong catalyst for achieving sustainable development goals and implementing projects to mitigate and adapt to the effects of climate change in Arab countries.
The forum will also work to link investors, private financiers, development partners and governments in order to discuss joint action to create investment opportunities that support regional action priorities.